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Elon Musk Plans To Take Twitter Public Again Later: Report

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Elon Musk plans to take Twitter public later: report

Elon Musk plans to take Twitter public later: report

Elon Musk plans to take Twitter public in just three years after buying the social media company, The Wall Street Journal reported on Tuesday, citing people familiar with the matter.

Twitter did not immediately respond to a request for comment from Reuters, while Musk could not be reached for comment.

Reuters reported earlier this week that Musk was in talks with major investment firms and high net worth individuals to secure more funding for his $44 billion acquisition of Twitter and tie up less of his wealth in the deal.

On April 25, Twitter’s board said it had accepted Tesla CEO’s offer to buy the company, ending a week-long saga and ushering in a new era for the social media platform. in trouble.

Musk will pay $54.20 per share for the company, which he has pledged to take private. The deal is expected to close later this year, subject to conditions, including approval from Twitter’s shareholders and regulators.

Musk said he lined up financing for his takeover bid on Twitter.
Reuters

As reported by the Post, Musk said last month that he raised $21 billion in cash equity from himself and other co-investors to make the offering on Twitter. Musk said he also arranged $25.5 billion in committed debt financing through Morgan Stanley in the form of loans against Twitter itself and his personal stock.

Musk has also sold $8.5 billion worth of Tesla stock – but he insists the rest of his stake in the electric car maker will remain intact for now.

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